SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) Sees Large Growth in Short Interest

SPDR Portfolio Intermediate Term Corporate Bond ETF (NYSEARCA:SPIB) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 7,793,899 shares, a growth of 117.5% from the June 30th total of 3,583,178 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 5,607,991 shares, the days-to-cover ratio is currently 1.4 days.

SPDR Portfolio Intermediate Term Corporate Bond ETF Stock Down 0.1%

SPIB stock traded down $0.04 during mid-day trading on Wednesday, reaching $33.13. The company’s stock had a trading volume of 6,872,665 shares, compared to its average volume of 7,698,377. The company’s 50 day moving average is $33.33 and its two-hundred day moving average is $33.57. SPDR Portfolio Intermediate Term Corporate Bond ETF has a fifty-two week low of $33.03 and a fifty-two week high of $34.14.

Institutional Investors Weigh In On SPDR Portfolio Intermediate Term Corporate Bond ETF

Several hedge funds and other institutional investors have recently made changes to their positions in SPIB. American Family Investments Inc. acquired a new position in shares of SPDR Portfolio Intermediate Term Corporate Bond ETF in the 2nd quarter worth approximately $178,108,000. Ameriprise Financial Inc. increased its holdings in SPDR Portfolio Intermediate Term Corporate Bond ETF by 88.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,407,199 shares of the company’s stock valued at $181,617,000 after purchasing an additional 2,537,710 shares during the last quarter. RMG Wealth Management LLC acquired a new stake in SPDR Portfolio Intermediate Term Corporate Bond ETF in the 1st quarter valued at approximately $29,366,000. Manning & Napier Advisors LLC raised its position in SPDR Portfolio Intermediate Term Corporate Bond ETF by 320.9% in the first quarter. Manning & Napier Advisors LLC now owns 628,376 shares of the company’s stock valued at $21,076,000 after purchasing an additional 479,097 shares during the period. Finally, Moment Partners LLC purchased a new stake in SPDR Portfolio Intermediate Term Corporate Bond ETF in the first quarter valued at approximately $10,698,000.

About SPDR Portfolio Intermediate Term Corporate Bond ETF

The SPDR Portfolio Intermediate Term Corporate Bond ETF (SPIB) is an exchange-traded fund that mostly invests in investment grade fixed income. The fund tracks a market-value-weighted index of investment-grade, fixed-rate taxable US corporate bonds with a maturity of at least one year, but no more than 10 years. SPIB was launched on Feb 10, 2009 and is managed by State Street.